Coffee price today December 31, 2024: Slight increase again
Today's domestic coffee price on December 31 is at 120,500 - 121,200 VND/kg, a slight increase of 200 VND/kg compared to yesterday. Unseasonal rain continues to affect coffee harvesting and processing.
Domestic coffee prices today
Specifically, today's coffee price in Dak Lak increased by 200 VND/kg, reaching 121,000 VND/kg.
Coffee prices today in Lam Dong also increased by 200 VND/kg, reaching 120,500 VND/kg.
Similarly, today's coffee price in Gia Lai increased by 200 VND/kg, reaching 121,000 VND/kg.
Today's coffee price in Dak Nong has the highest price when it increased by 200 VND/kg, reaching 121,200 VND/kg.
Unseasonal rains are making it difficult to harvest and process coffee in Vietnam. About 20-30% of the crop has yet to be harvested, and the quality of the beans is at risk of being severely affected.
According to the Vietnam Coffee and Cocoa Association (Vicofa), in the first 11 months of 2024, Vietnam exported more than 1.19 million tons of coffee, reaching a turnover of 4.93 billion USD. Although the export volume decreased by 15.4%, the value increased by 35.5% compared to the same period in 2023.
During the same period, Vietnam imported 141,283 tons of coffee worth 575.2 million USD, up 44.7% in volume and 108.8% in value compared to last year. Notably, in November alone, the import volume reached 15,494 tons, up 115% in volume and 217.4% in value.
World coffee prices today
At the end of the most recent trading session, the price of Robusta coffee in London for delivery in March 2025 decreased by 18 USD/ton, at 4,935 USD/ton, and for delivery in May 2025 decreased by 17 USD/ton, at 4,865 USD/ton.
Arabica coffee prices for March 2025 delivery decreased by 2.55 cents/lb to 320.10 cents/lb, and for May 2025 delivery decreased by 1.85 cents/lb to 315.75 cents/lb.
The New York coffee futures market is under pressure due to a weakening Brazilian real, which encourages Brazilian producers to increase exports to earn higher profits.
Certified Arabica coffee stocks on ICE are close to one million bags, recovering significantly from a record low in November 2023. This is a negative factor for the market.
According to the latest report, non-commercial speculators reduced their net long position by 2.78% to 38,156 lots in the week ending December 17.
The last days of the year are typically low in trading volume. Investors are looking ahead to 2024 after a strong rally this year.
The market is keeping an eye on the coffee harvest in Vietnam and awaiting the first estimate of Brazil's upcoming harvest, expected in the coming weeks.
The Bloomberg Commodity Index is also closely watched, with portfolio adjustments expected in mid-January.
